Ocean Network Express Completes Merger Approvals
South Africa’s competition watchdog becomes final signatory allowing Kawasaki Kisen Kaisha (K Line), Mitsui O.S.K. Lines (MOL ), Nippon Yusen Kabushiki Kaisha (NYK ) merger, so that Joint venture (JV) can start operations on April 1. "K Line, MOL and NYK have announced that their new joint venture company, Ocean Network Express Pte. Ltd., established in July 2017, has received all necessary merger approvals from local competition authorities in regions and countries where such approvals are required for the launch of service by the newly established joint venture company…
DNV GL Launches Project to Test Biodegradable Lubricants
Classification society DNV GL has launched a new joint development project (JDP) in cooperation with marine insurers The Swedish Club, Norwegian Hull Club, Gard and Skuld to test the potential influence of Environmentally Acceptable Lubricants (EALs) on failures in stern tube bearings. DNV GL will oversee detailed laboratory testing of EALs by Leonardo Testing Services Ltd. at the University of Sheffield (UoS), UK. The JDP has been prompted by an increase in stern tube bearing failures over the last few years.
Wilhelmsen Maritime In FSN Private Equity Joint Venture
Wilhelmsen Maritime Services (WMS) says it has signed a letter of intent with the Nordic private equity fund FSN Capital to establish a joint venture within engineered solutions, equipment and services to the maritime and offshore markets currently trading under the business area Wilhelmsen Technical Solutions. The new company, to be owned 50% each by Wilhelmsen Maritime Services (WMS) and FSN Capital, comprises the business within HVAC, insulation, electrical and automation including the brands Callenberg, TI Marine Contracting and newly acquired IES Ltd.
BSM, Optimum Announce Joint Venture Company
Bernhard Schulte Shipmanagement (BSM) and Optimum Ship Management (Optimum) have announced the launch of a new joint venture partnership, Hanseatic Cruise Services. Based in Singapore, Hanseatic Cruise Services will provide comprehensive, world class passenger vessel management services to third-party clients around the world. BSM is continuously working to expand and diversify its range of services. It believes that the cruise industry presents a significant opportunity for development, offering major growth potential.
MOL, ML, MSC launch Joint Asia - South America Service
Mitsui O.S.K. Lines (MOL) today announced the launch of new joint services with Maersk Line (ML) and Mediterranean Shipping Company (MSC) between the major trading hub of Asia and key ports in East coast of South America. MOL’s existing service ‘CSW’ will be upgraded into 2 strategic services to be jointly operated by the 3 shipping lines for improved product efficiency, wider connectivity with our existing network over the key transshipment ports and more direct port coverage in Asia and East coast of South America.
NYK, MOL and K Line to Merge Container Shipping Businesses
Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines Ltd. and Nippon Yusen Kabushiki Kaisha will establish a new joint-venture company to integrate the container shipping businesses. The shippers have agreed, after the resolution by the board of directors of each company, and subject to regulatory approval from the authorities, to establish a new joint-venture company to integrate the container shipping businesses, including worldwide terminal operating businesses excluding Japan, of all three companies and to sign a business integration contract and a shareholders agreement.
Evergreen Line Launches Express Service
Evergreen Line has announced the launch of its new combined weekly service with Sea Consortium Pte LTd. on the Arabian Express Service (ASX) that commenced December 27, 2008. The new joint ASX will begin with the departure of the 700 TEU vessel, Martha Russ 108N, from the port of Colombo and will operate a weekly service with rotation as follows: Colombo - Kandla - Mundra - Karachi - Nhava Sheva - Colombo The joint service will enhance Evergreen's extensive feeder network in Europe and the Mediterranean as well as expand trade to and from India and Pakistan.
MacGregor in JV with China State Shipbuilding
MacGregor, part of Cargotec, and China State Shipbuilding Corporation's (CSSC) Nanjing Luzhou Machine Co Ltd (LMC) signed a joint venture contract to form CSSC Luzhou MacGregor Machine Co Ltd. Subject to all relevant authority approvals, expected within this year, LMC will own 51 percent and MacGregor 49 percent of the new joint venture company. As a first step, the joint venture will cover the transfer of Hatlapa marine air compressor technology over a two-year period. CSSC…
ClassNK Joins SOx Scrubber Research
Leading class society ClassNK has announced that it will participate in a new joint development project to install and verify the effectiveness of new Sulfur Oxide (SOx) scrubber technology onboard a Pure Car Carrier (PCC) being carried out by Kawasaki Kisen Kaisha, Ltd. (K-Line), Mitsubishi Heavy Industries (MHI), Mitsubishi Kakoki Kaisha, Ltd, (MKK), and Japan Marine United Corporation (JMU). This new joint research project is being implemented as part of K-Line’s new Drive Green Project, which aims to protect the environment and reduce CO2 emissions through the use of new maritime technology. As part of the Drive Green Project, K-Line will install a variety of new green technologies…
Swiss Re To Launch Joint Lloyd''s Hull Insurer
Swiss Re, Lloyd's underwriter Chartwell Re and marine mutual insurance manager Thomas Miller are reportedly setting up a new joint venture marine insurance syndicate at Lloyd's.
DP World to invest in Russian Ports, Infrastructure
Dubai ports operator DP World and the Russian Direct Investment Fund (RDIF) have launched a new joint venture aiming to invest in ports, transportation and logistics infrastructure in Russia, they said in a statement on Thursday. Under the name DP World Russia, the new company will focus on marine, dry ports and logistics infrastructure with potential total investments of $2 billion. Reporting by Oksana Kobzeva
Setron Joins Shipbuilding Business
Bhd, an electronics company, has diversified into the shipbuilding business by partnering Pong Leung Swee to set up and operate a shipyard on Carey Island, Selangor, Malaysia Setron said the alliance entails designing and building ships and similar vessels to primarily serve the oil and gas industry. "The company is confident that the demand for new crew boats and other support vessels for oil and gas industry in the region is promising. A new joint venture company will be formed and Setron would hold 51 percent while Pong would have the rest. Source: Business Times
Rosneft, BP In JV To Explore For Oil
Rosneft and BP announce the completion of the deal to create a new joint venture, Yermak Neftegaz LLC, to conduct exploration in the West Siberian and Yenisey-Khatanga basins in the Russian Federation. Final binding agreements for the new joint venture were signed at the XX St. Petersburg International Economic Forum (SPIEF) in June 2016. The joint venture will focus on the onshore exploration of two Areas of Mutual Interest (AMIs) in the West Siberian and Yenisey-Khatanga basins covering a combined area of approximately 260,000 square kilometers.
CSSC, Wärtsilä Form Electrical & Automation Joint Venture
Technology group Wärtsilä and China State Shipbuilding Corporation (CSSC) have signed a new joint venture company agreement. The new joint venture, to be known as CSSC Wärtsilä Electrical & Automation Co Ltd (CWE&A), will focus on the growing Chinese electrical and automation (E&A) market, especially for high-tech ship applications. The joint venture company is expected to be fully operational before the middle of 2017. China is a growing market within the high-tech ships segment, and Chinese yards are increasingly active in newbuild projects for high-tech and high-added value ships.
Oceanteam Dips Toe in Mexican Offshore Market
Norway-based Offshore shipping company, Oceanteam Shipping ASA, highlights results in the first quarter of 2014 and draws attention to a Mexico J/V with PEMEX. Revenue from operations USD 15.1 million for the quarter. EBITDA from operations is positive USD 6.7 million for the quarter. Operating profit of USD 4.2 million. Net finance negative USD 3.7 million. CSV Southern Ocean is 100 percent consolidated from the first quarter due to change in control effective from 2014. This is related to implementing of IFRS 10 Consolidated Financial Statements and IFRS 11 Joint Arrangements.
Container Shippers Enhance Asia-Australia Network
In order to offer shippers a more comprehensive service on Asia-Australia trade, Evergreen Line, OOCL, MOL, "K" Line and YML are teaming up to offer a new joint North East Asia - Australia Express (NEAX). This weekly service will utilize six ships of between 3,500 and 3,700 TEU capacity, one each provided by Evergreen, MOL, K-LINE, YML and the remaining two by OOCL. The first sailing is planned to depart from Yokohama on October 23, with the following port rotation: Yokohama - Osaka - Pusan - Qingdao - Shanghai - Ningbo - Melbourne - Sydney - Brisbane, then returning to Yokohama.
Keel Laid for Dutch Naval Ship
According to a report from UPI.com, Damen Schelde Naval Shipbuilding reports the keel has been laid for a new joint support ship for the Dutch navy. The JSS, designed to operate both in the lower and higher levels of the force spectrum, will measures 673 ft in length and 98 ft in breadth. Source: UPI.com
Van Ommeren, Clipper In Dry Freight Venture
Van Ommeren, due to merge with domestic rival Pakhoed, announced its Van Ommeren Shipping venture will combine dry freight operations with those of Clipper Group in a new joint venture.
NSB Adds 31 Ships
German ship manager NSB Group has added 31 new ships under its management. In the course of the new joint venture named PT Asia Marine Temas fleet of NSB grows up to 96 vessels in total. At the same time NSB extends its business in Southeast Asia. Partner of the new joint venture is Indonesian shipping company Temasline. Headquarter of the company is located in Jakarta. Until 2020 the corporate structure of the group of companies will undertake further changes. REEDEREI NSB is extending international ship management activities under corporate brand name NSB GROUP.
Kvaerner, KBR Partner for Johan Sverdrup Contracts
Kvaerner and KBR, Inc. will establish a joint venture to competitively bid on offshore platform topsides contracts for the Johan Sverdrup field development offshore Norway, the companies announced. The alliance combines Kvaerner's expertise and resources as a turn-key contractor for offshore platforms with KBR's competence as an international offshore oil and gas contractor. "KBR sees Kvaerner as one of this industry's most experienced EPC contractor, particularly for demanding projects in Norway, including the Johan Sverdrup field," said Stuart Bradie, KBR President and Chief Executive Officer. The Johan Sverdrup field is one of Norway's largest offshore oil and gas fields, and it is expected that the first development phase will include four offshore platforms for a new field center.
Carnival and Orizonia Finalize New Spanish Cruise Operation
multi-ship cruise brand serving the Spanish market. percent. and is expected to be accretive to results in 2008. Carnival group. Cruise Lines' fleet, will be transferred to the new Iberocruceros company. service in late spring 2008. headquartered in Madrid. CEO of Carnival Corporation & plc's Costa Cruises unit. include Orizonia CEO Gabriel Subias. The three Iberocruceros ships will fly the Italian flag. for these vessels will be announced shortly.
Kvaerner & KBR Ally on Offshore Rig Topside Bids
Kvaerner ASA says it is to establish a joint venture with KBR Inc. to bid competitively on offshore platform topsides contracts for the Johan Sverdrup field development offshore Norway. The alliance combines Kvaerner's expertise and resources as a turn-key contractor for offshore platforms with KBR's competence as a leading international offshore oil and gas contractor. The Johan Sverdrup field is one of Norway's largest offshore oil and gas fields, and it is expected that the first development phase will include four offshore platforms for a new field center.
APL, MOL, NYK Launch Joint Service
APL, Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kaisha (NYK) have together launched a new joint service between trading hubs in Asia and ports in Mexico, Colombia and Panama. In a joint statement made by the carriers, APL, MOL and NYK said Asia is an important market for exporters in Latin America. By providing weekly sailings, competitive transit times, as well as regional connectivity to Central America, West Coast South America and the Caribbean basin, the lines said shippers would be well-served, in particular those who are moving refrigerated cargo from Latin America to the fast growing Asian markets. The Asia- South America Service (ASA) service replaces the Southeast Asia 1 (SE1) service. Eight post-Panamax ships of about 6,000 TEUs will be deployed in the joint service.